MET - Metlifecare - one for the fundies?

[winner69]

Peat - that EPS is calculated on IFRS profit and was less in F19 v F18 because fair value adjustments fell from $133m in F18 to $54m in F19 because of slowdown in property market.

Most of these are unrealised gains ....will become realised and form part of underlying earnings one day

Everybody in the sector have this ‘problem’

[macduffy]

My sense is that the funk the Auckland market has been in for years is coming to an end.

Has it really been in a funk - or has the ability to pay Auckland prices been reached, at least until incomes catch up?

[Beagle]

Has it really been in a funk - or has the ability to pay Auckland prices been reached, at least until incomes catch up?

Not so much an income story mate but over the last 3 years Auckland real estate has hardly moved against a background where mortgage interest rates have dropped dramatically making debt servicing substantially cheaper.

[macduffy]

Not so much an income story mate but over the last 3 years Auckland real estate has hardly moved against a background where mortgage interest rates have dropped dramatically making debt servicing substantially cheaper.

Nevertheless, banks will only lend where the ability to service the debt can be shown. Modest income rises don't support ever-increasing property prices.

[Beagle]

Nevertheless, banks will only lend where the ability to service the debt can be shown. Modest income rises don't support ever-increasing property prices.

Debt servicing a lot easier at 3.5% than 5.5%.

http://nzx-prod-s7fsd7f98s.s3-websit...191/310478.pdf

lll - I've commented on remediation issues already. If you focus on the negative you'll not see the positives, (I have fallen into that trap before). 420 homes refurbished last year and the communal living area's of 10 villages upgraded.
Care an increasing focus of their operations. Something trader Jackson would be impressed by: 75% of their care facilities have the gold standard 4 year accreditation and 96% occupancy rate in their care facilities which puts some other companies to shame. http://nzx-prod-s7fsd7f98s.s3-websit...382/306999.pdf

Plenty of info in there for people to DYOR.